The ABI is encouraging all voluntary and community groups to develop effective risk management plans.
In the face of rising compensation payouts, the ABI said any organisation that overlooks assessing and minimising its risks faces a potentially crippling bill for damages.
To help all voluntary and community groups, the ABI has produced a free guide ‘Living with Risk' which will help voluntary and community groups to develop a good risk management policy, plan activities more effectively and identify the insurances they may need to cover their potential legal liabilities.
Nick Starling, the ABI's director of general insurance, said: "Risk is a fact of life we all have to face. In the voluntary and community sector, managing risk is especially important because of the wide range of activities and often limited resources to deal with the financial implications if things go wrong.
"Following our guidance will not only help all groups develop, but will help them in obtaining competitively- priced liability insurance."
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